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The Federal Reserve just revealed a massive liquidity mechanism
Steven Miran, Federal Reserve Board Governor, explained a critical issue that goes far beyond stablecoins. 👀
People around the world want to get US dollars, but many cannot access them through banks. Stablecoins address this problem on a large scale. And when demand increases, funds are not dissipated in cryptocurrency speculation.
Instead, they flow directly into US Treasury bonds and reserves.
Miran compared this situation to the global savings surplus that kept #US_Interest_Rates low for years. It is estimated that stablecoins can recreate about one-third of this effect. This is not a limited result, but a whole liquidity.
Low structural interest rates are important because liquidity always finds its way into rare assets like cryptocurrencies.
Our field is no longer seen as marginal but is now discussed as an integral part of the financial system. Thus, adopting these currencies becomes inevitable.
#ETHBreaksATH #BTCVSGOLD #FOMCWatch
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